Magazines / Wireless companies drive growth
Telecommunications was the fastest growing category in Hispanic magazine advertising during the first eight months of 2004 (+ 71.4% compared to the same period last year). Wireless phone companies were the driving force behind the high growth rate. Verizon, Nokia, Cingular and Nextel accounted for more than 75% of ad spending. The high growth rate is also a result of the relatively low level of telecommunications ad spending in magazines. According to data provided by HispanicMagazineMonitor (Media Economics Group), telecommunications was ranked the eleventh most important ad category for Hispanic magazines. The top three spenders were Personal Care (US $21.4 million), Consumer Products (US $20.9 million), and Automotive (US $16.1 million). During the January-August 2004 period telecommunications companies spent a total of US $2.2 million on hispanic advertising, a very small portion of total telcom ad expenditures (US $104 million).
The majority of magazine ad dollars went to People en español, Latina, Hispanic Business, Hispanic Magazine, Vanidades, Selecciones, Sobre Ruedas, TV y Novelas, Fútbol Mundial and Cristina La Revista, respectively.
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